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Students at a major university believe they can save money buying textbooks online rather than at the local bookstores. In order to test this theory, they randomly sampled 25 textbooks on the shelves of t local bookstores. The students then found the "best" available price for the same textbooks via online retailers. The prices for the textbooks are listed in the following table. Based on the data, is it less expensive for the students to purchase textbooks from the online retailers than from local bookstores Use a = 0.01. Let prices at local bookstores represent Population 1 and prices at online retailers represent Population 2. Textbook 1 2 3 4 5 6 7 8 9 10 11 12 13 Bookstore 65 60 131 84 114 125 123 62 95 100 116 110 51 Textbook Prices (Dollars) Online Retailer Textbook 14 15 16 17 18 19 20 21 22 57 49 133 97 115 124 110 42 92 107 108 95 48 23 24 25 Bookstore Online Retailer 115 60 146 123 147 147 118 142 140 137 121 117 115 71 125 136 132 127 96 137 144 113 132 132 Copy Data Step 2 of 3: Compute the value of the test statistic. Round your answer to three decimal places. Students at a major university believe they can save money buying textbooks online rather than at the local bookstores. In order to test this theory, they randomly sampled 25 textbooks on the shelves of t local bookstores. The students then found the "best" available price for the same textbooks via online retailers. The prices for the textbooks are listed in the following table. Based on the data, is it less expensive for the students to purchase textbooks from the online retailers than from local bookstores Use a = 0.01. Let prices at local bookstores represent Population 1 and prices at online retailers represent Population 2. Textbook 1 2 3 4 5 6 7 8 9 10 11 12 13 Bookstore 65 60 131 84 114 125 123 62 95 100 116 110 51 Textbook Prices (Dollars) Online Retailer Textbook 14 15 16 17 18 19 20 21 22 57 49 133 97 115 124 110 42 92 107 108 95 48 23 24 25 Bookstore Online Retailer 115 60 146 123 147 147 118 142 140 137 121 117 115 71 125 136 132 127 96 137 144 113 132 132 Copy Data Step 2 of 3: Compute the value of the test statistic. Round your answer to three decimal places.
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Operations Management Creating Value Along the Supply Chain
ISBN: 978-1118301173
1st Canadian Edition
Authors: Roberta S. Russell, Bernard W. Taylor, Ignacio Castillo, Navneet Vidyarthi
Posted Date:
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